Petrol sales up 9.3 percent in December; diesel down 2.8 percent, jet fuel by 41 percent
NEW DELHI: Petrol sales increased 9.3% year-on-year in December while diesel demand fell 2.8%, reflecting varying recovery paths for the two transportation fuels in the country.
Demand for all refined products fell 1.8% in December from a year earlier, signalling that the country’s oil market had come a long way from nearly 50% contraction in April due to the lockdown but was yet to fully recover to the pre-pandemic level.
A slower recovery in diesel, which makes up 40% of oil demand in the country, indicated that economic activity was picking up but only gradually, said an industry executive. Diesel is primarily used in the transport of NSE -2.56 % goods, and a slower recovery means sluggish demand growth in the domestic and export markets. India’s exports fell 0.8% year-on-year in December, as per preliminary government data.
